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, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. i mean, i... i'm assuming that doesn't sound too good to you. >> no. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> warner: in washington, republicans portrayed the road trip as so much humbug, at a time, they said, when negotiations are going nowhere. >> there's a stalemate. let's not kid ourselves. >> warner: house speaker john boehner said republicans remain willing to raise revenues, but not by raising tax rates. and he charged the whi
, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in...
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cliff. the two sides traded charges of bad faith as year-end tax hikes and spending cuts moved another day closer. on the face of it there seemed to be little movement today. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sreenivasan: treasury secretary timothy geithner and legislative chief rob nabors arrived at the capitol this morning, for meetings with congressional leaders. house speaker john boehner also spoke to president obama on the phone last night. he said he wanted to know where the administration would rein in spending, but that he had heard nothing new. >> i was hopeful we'd see a specific plan for cutting spending. we sought to find out today what the president is really willing to do. listen, i remain hopeful that productive conversations in the days ahead can be had but the white house has to get serious. >> sreenivasan: senate minority leader mitch mcconnell echoed that complaint. in a statement, he sa
cliff. the two sides traded charges of bad faith as year-end tax hikes and spending cuts moved another day closer. on the face of it there seemed to be little movement today. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sreenivasan: treasury secretary timothy geithner and legislative chief rob nabors arrived at the capitol this morning, for meetings with congressional leaders. house speaker john boehner also...
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first to the fiscal cliff. at the end of the year the buescher ra tax cuts will expire and the first wave of $1.2 trillion in spending cuts is scheduled to kick in. c.e.o.'s and economists alike are worried this will send the economy spiraling back into recession. the solution, $1. trillion in new revenue, much to come from raising taxes on wealthy americans. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. every family. everybody here, you'll see your taxes go up on january 1. and it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper-income folks to go up. gwen: house speaker john boehner's response, no way. they are, he said, at stalemate. >> the white house spends three weeks trying to develop a proposal, and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not
first to the fiscal cliff. at the end of the year the buescher ra tax cuts will expire and the first wave of $1.2 trillion in spending cuts is scheduled to kick in. c.e.o.'s and economists alike are worried this will send the economy spiraling back into recession. the solution, $1. trillion in new revenue, much to come from raising taxes on wealthy americans. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. every family....
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just 28 days to go before the fiscal cliff deadline, today house republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
just 28 days to go before the fiscal cliff deadline, today house republicans sent the president a counter-offer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. >> tom: i'm tom hudson. auto sales speed up in november, with buyers taking advantage of ultra-cheap financing to ditch
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cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it'
cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone...
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less than a month remains for lawmaker to reach a deal before the fiscal cliff deadline. the whitehouse open sists tax rates must rise on higher incomes in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal done, but it's going to require what i talked about during the campaign which is a balanced responsible approach to deficit reduction that can help give businesses certainty and make sure that the country grows. and unfortunately the speaker's proposal right now is still out of balance. he talks for example about $800 billion worth of revenues but he says he's going to do that by lowering rates. when you look at the math, it doesn't work. >> rose: and here is the president talking about why it's essential for him that there be tax increases for the most wealthy among us. >> i don't think
less than a month remains for lawmaker to reach a deal before the fiscal cliff deadline. the whitehouse open sists tax rates must rise on higher incomes in order to balance spending cuts but republican leadership remains committed to extending the bush tax cuts for all a tax bracket. brainer offer his response to the president. in an interview with julianna goldman of bloomberg news obama called the boehner plan quote out of balance. >> i think that we have the potential of getting a deal...
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. >> brown: washington was a-whirl today with more talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated from the white house and the capitol today, about getting a deal before the new year brings automatic tax hikes and spending cuts. president obama offered his optimism at an event with middle-class americans who'd be hit by any tax increase. >> i'm glad to see-- if you've been reading the papers lately-- - that more and more republicans in congress seem to be agreeing with this idea that we should have a balanced approach. so if both parties agree we should not raise taxes on middle class families, let's begin our work with where we agree. >> brown: one such lawmaker is republican house member tom cole of oklahoma. th
. >> brown: washington was a-whirl today with more talk of avoiding the much-discussed fiscal cliff. but as november wound down, the president suggested an agreement on taxes and spending could come in time for the holidays. >> i believe that both parties can agree on a frame work that does that in the coming weeks. in fact my hope is to get this done before christmas. >> you know me, i was born with the glass half full. i'm an optimist. >> brown: hopeful signs emanated...
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it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising taxes on the rich, the president is ready to go off the cliff. >> right now i'd say we are nowhere, period. nowhere. >> john boehner declaring a stalemate in an exclusive with fox, as republicans teed off on president obama first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour lat
it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising...
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online we have a report from our partners at kaiser health news on how the fiscal cliff could affect health care for the military and for medicare patients. >> brown: next, a potential crisis of a different kind, one that has new urgency after hurricane sandy and that also involves federal spending: rising sea levels. today, new york city mayor michael bloomberg announced a new long-term initiative to protect the city from future natural disasters. he called for rebuilding vulnerable coastal areas, but dismissed again the idea of constructing a large sea-gate across the harbor. >> we're not going to abandon the waterfront. we're not going to abandon the rockaways or coney island or staten island's south shore. but we can't just rebuild what was there and hope for the best. we have to build smarter and stronger and more sustainably. >> woodruff: 350 miles south. the city of norfolk, virginia, is another coastal city vulnerable to sea level rise and extreme storms. but its mayor has said parts of his city might not be livable in the future. our producer, mike melia, traveled to norfolk
online we have a report from our partners at kaiser health news on how the fiscal cliff could affect health care for the military and for medicare patients. >> brown: next, a potential crisis of a different kind, one that has new urgency after hurricane sandy and that also involves federal spending: rising sea levels. today, new york city mayor michael bloomberg announced a new long-term initiative to protect the city from future natural disasters. he called for rebuilding vulnerable...
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and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president has an awful lot of leverage. >> bret: but you have the democrats, juan, like mike pryor of arkansas who told politico this -- "as you know people around here like the
and the domestic spending cuts. fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the...
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. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and president obama need to strike a deal on reducing the national debt. they have soundly rejected a white house offer that included $1.6 trillion in revenue, $400 billion in medicare and other entitlement savings, as well as a permanent increase in the debt limit among other things. so far, the rhetoric has not softened. treasury secretary tim geithner arriving on capitol hill for high level talks, most notably with house speaker john boehner. >> good morning, everyone. >> how did it go? just listen. >> despite the claims that the president supports a balanced approach, the de
. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one way to avoid the fiscal cliff. spending cuts and tax hikes. house republicans and...
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spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line and this is a moment for adult leadership. >> perhaps most su prirprising the white house proposal to get the president just about unlimited power to raise the nation's debt sealiceiling and w more and more money unless they reject. these will be tough negotiations ahead. we got a little sample of this yesterday from senate majority leader talki
spending cuts at the end of the fiscal year. it has really shocked republicans this year on capitol hill. they say it calls for, for one thing, $1.6 trillion in new tax hikes over a decade. it is also stimulus spending and the spending cuts. both sides are necessary to reduce the deficit. those the president would largely tackle later perhaps next year. >> first despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending...
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cliff with revenue and spending cuts departments are willing to embrace so we can make sure we avoid this fiscal cliff and particularly raise the debt ceiling and avoid economic disaster. >> if that's the only particular issue to confront us next year if it is not wrapped up in this one negotiation as it should be. later in the show, we'll talk to chris van hollen, your colleague about a motion to dismiss possibility that would circumvent john boehner's extrasty to keep this bill off the floor. we will see about that. look, will rogers famously said i'm not a member of on organized party, i'm a democratic. you seem to tame the beat. under your leadership, the party has been unified. you had remarkable gains in the senate. how did you do it? >> this is a team effort. in fact, you took the words right out of my mouth from the d.n.c. meetings. i quoted will rogers in celebrating our victory because i think that will rogers would be surprised and proud that the party that he knew not to be organized was very well organized, had a ground game that was well coordinated that, you know, the
cliff with revenue and spending cuts departments are willing to embrace so we can make sure we avoid this fiscal cliff and particularly raise the debt ceiling and avoid economic disaster. >> if that's the only particular issue to confront us next year if it is not wrapped up in this one negotiation as it should be. later in the show, we'll talk to chris van hollen, your colleague about a motion to dismiss possibility that would circumvent john boehner's extrasty to keep this bill off the...
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the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag a
the fiscal cliff? >> listen, there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible...
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cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and said you can't be serious. >> the house speaker says republicans put increased revenues including efforts to close tax loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over the clif. >> if they are going to force higher rates on virtually all americans because they're unwilling to let
cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and...
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speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the promise of spending cuts has to be included in the deal that overts a fiscal cliff. >> there is a framework that we presented to the white house two weeks ago. the framework has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of balance. and not recognition on the part of the white house about the serious spending problem that we have. >> based on the procespect of going over the fiscal cliff which you just called serious bus
speak, roughly what size spending cuts do you think it would take to reach a deal on the fiscal cliff and do you think that at least the promise of spending cuts has to be included in this level of deal at this time? >> i don't think it's productive for either side to what i out hard lines in terms of what the size of the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was -- >> my question is do you think the...
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fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with ourselves. >> the president and boehner spoke on the phone wednesday, but republicans want more. >> we want to sit down with the president. we want to talk specifics. >> whether the talks happen on the phone or in person, here on capitol hill or at the white house, there will be no deal without a compromise on taxes, something that does not appear likely any time soon. >> an obsession to raise taxes is not going to solve the problem. >> treasury secretary timothy geithner said the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boeh
fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with ourselves. >> the president and boehner spoke on the phone wednesday, but republicans want more. >> we want...
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insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be
insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats...
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lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that, the gdp in 2013 will 3.5 percentage points. subtract that and that is a severe recession. cbo and others are probably us are animating how severe that will be -- are underestimating how severe that will be because confidence is very weak. it is unclear how the reserve would response to this. we need to scale back from the cliff. at the very minimum, the cliff needs to be scaled back so it is only a hit to gdp at 1.5% -- 1.5 percentage points at most. if you have more of a drive than that, it it becomes it. the economy will weaken. the budget deduction will deteri
lawmakers have to resolve three issues -- first, the fiscal cliff. second, raising the treasury debt ceiling, which as you know is becoming an issue rarely soon. third, achieving long-term fiscal sustainability. that is deficit reduction and tax increases and spending cuts that allow the gdp ratio to stabilize by the end of the decade. these three things need to be done now. in terms of the fiscal cliff, if policy is unchanged and we go over the cliff and there is still no change after that,...
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. >>> the fiscal cliff doesn't drop off for almost three weeks but this morning federal agencies have new marching orders from the white house. >> they do. they've been told to prepare for more than $100 billion in spending cuts. susan mcginnis reports there are few signs ever progress to fix this fiscal cliff so far. >> reporter: social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at the end ever the year as part of the fiscal cliff. >> we don't want to see our public hurt in any way. >> reporter: just down the road in washington, d.c., the standoff continues. house speaker john boehner says he is still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> reporter: the president and boehner spoke on the phone wednesday but republicans want more. >> we want to sit down with the. we want to talk specifics. >> reporter: whether the talks happen on the phone or in per
. >>> the fiscal cliff doesn't drop off for almost three weeks but this morning federal agencies have new marching orders from the white house. >> they do. they've been told to prepare for more than $100 billion in spending cuts. susan mcginnis reports there are few signs ever progress to fix this fiscal cliff so far. >> reporter: social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at...
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january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having, what is going to happen in another 10 years? what happens is, these people earning more than $250,000, they worked from the age of 18 to move up the ladder and finally reached success. the pint the republicans have to make is it is time to lower taxes on middle-class families. it has reached a pinnacle. it is time to may be lower taxes on the middle-class. we have to cut spending because the economy is in such bad positicondition. democrats keep pointing out that 98% of businesses are less than $250,000. 98% of people working in those businesses -- with that went to in
january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having,...
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cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting obama's terms crammed down our throat. boehner needs to get a told of this pr machine and paint obama as the one who is holding the country hostage. he wants to talk about holding the middle class hostage. no, it's him holding the entire country hostage and our kids hostage to his reckless spending and cynical refusal to enter the entitlement reform game. >> i don't even want to hear more about taxes. juan, shaking your head. >> i hear you, gentlemen. you guys are wonderful. merry christmas. but sean you said hyperpartisanship, and david talks about inflexibility. you know, and i'm thinking to
cliff -- the real fiscal cliff is national bankruptcy, and its imminent if we don't cut spending and entitlements . obama is a bully, inflection i believe, making demands we can't accept because his demands involve spending increases, no spending reductions, tax increases on two percent of people who won't do anything with revenues. it's totally unacceptable. at least under the fiscal cliff we have some mandatory cut, albeit us proportionately to defense spending. but it's better than accepting...
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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that is not good news as we approach the fiscal cliff. specifically, what areas would you be willing to compromise on in terms of spending or in terms of the tax proposals that are out there to try and get this thing solved? >> well, first of all, in terms of speaker boehner's comments, i think we have to recognize there is a certain choreography that goes on in a negotiation, as might be expected. after the leak the leadership got together and said the right things. then there's going to be a distancing as the difficult terms are negotiated until we come together again. i'm kf didnconfident we will an avoid the fiscal cliff. i recognize we'll have to give, as well as the other side, but i do completely agree with the president that the election was about something and one of the center front issues was whether those that have done well in the last decade should be called upon to do a little more in terms of helping to pay down our deficit and debt. i think the electorate answers that question so that's got to play a role in the negotiati
that is not good news as we approach the fiscal cliff. specifically, what areas would you be willing to compromise on in terms of spending or in terms of the tax proposals that are out there to try and get this thing solved? >> well, first of all, in terms of speaker boehner's comments, i think we have to recognize there is a certain choreography that goes on in a negotiation, as might be expected. after the leak the leadership got together and said the right things. then there's going to...
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cliff. what truly is on the table where both democrats and republicans are concerned? do you see anything they agree on? >> we have four weeks to go and so far there is not very much. remember, president obama said in the campaign he favored a balanced approach to getting over the fiscal cliff. balanced normally means about 50/50. 50% spending restraint. 50% revenue enhancement. but the president's proposal is apparently something like 80% tax increases. 20% spending restraint. unspecified. unspecified means it won't ever happen. >> jamie: what do you expect to happen given the fact that speaker boehner says that the white house is not willing to compromise on anything. if you are an american and you are sitting at home, maybe you are relying on entitlements. do you think both sides will have to cut entitlements and which ones? >> guest: entitlement reform will have to become part of a comprehensive approach early in the next year. i don't think in the holiday period you will be able to sort
cliff. what truly is on the table where both democrats and republicans are concerned? do you see anything they agree on? >> we have four weeks to go and so far there is not very much. remember, president obama said in the campaign he favored a balanced approach to getting over the fiscal cliff. balanced normally means about 50/50. 50% spending restraint. 50% revenue enhancement. but the president's proposal is apparently something like 80% tax increases. 20% spending restraint....
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Nov 29, 2012
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the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and entitlements? >> i certainly didn't and, by the way, good evening, larry, it's nice to be with you again. i don't find myself often agreeing with the editorial page of "the washington post" but this time they had it right. the president right now, the pep rally today is going out again on friday is really a continue ways of the campaign when in fact right now what he ought to be doing is trying to find some common ground with republicans, with congress up here on capitol hill because we've got to do something to avert this fiscal cliff. the
the coming tax and fiscal cliff. joining us to talk about this, we're going to get a gop response, senate republican conference chairman john thune of south documeakota. welcome back to the show. "the washington post" runs an editorial today saying it's time for the president to unveil some leadership on entitlement reforms and spending cuts because he hasn't done it. i want to ask you at the president's pep rally today, did you hear any of those leadership reforms on spending and...
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. >> now the fight over fiscal cliff, president obama stumping campaign style to prevent fast approaching spending cuts and expiring tax breaks and a potential economic disaster a month ago and toured a toy factory in pennsylvania, the company behind lincoln logs. the white house says the trip highlights the response extending the bush era tax cuts for everyone but now for any amount of money you make over $250,000. so everyone get as tax break but not anything over $250,000. that is the company's core customers and flames republicans for holding up the progress. republicans point the finger at the president. >> it is not acceptable to me or to you, i don't think, for a handful of the republicans in congress to hold middle-class tax cuts hostage. >> the white house took three weeks to respond with any kind of a proposal. to my disappointment, it wasn't a serious one. >>shepard: speaker boehner referred to meetings with the treasury secretary geithner. republicans called plan he layed out a step backwards, so much that top senate republican were mcconnell burst into laugh laughing western
. >> now the fight over fiscal cliff, president obama stumping campaign style to prevent fast approaching spending cuts and expiring tax breaks and a potential economic disaster a month ago and toured a toy factory in pennsylvania, the company behind lincoln logs. the white house says the trip highlights the response extending the bush era tax cuts for everyone but now for any amount of money you make over $250,000. so everyone get as tax break but not anything over $250,000. that is the...
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk about the fiscal cliff and back and forth that is happening between the white house and the hill, i guess i'm confused because on one hand there is a sense that this is all par for the course, they know they're going to get a deal done, it's fine, everything is good and then there's also this sort of the pr blitz which is, we are very far from a deal. this is what ayman alluded to this, the speaker had a press conference a few minutes ago. david axelrod giving his take and john boehner giving his take. let's take a listen. >> you saying then for pr purposes -- >> the president and the speaker are very flu
the other thing that will happen with the fiscal cliff is the massive withdraw of government spending and we haven't talked about that as much as taxes. people with less money because of tax cuts going away would have less money to spend into the economy but also the federal government withdrawing federal spending from parts of the economy that are used to getting it, the military, et cetera but other sectors nonmilitary. that's the other piece that could hurt people. >> when we talk...
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say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from entitlement reform will not be part of the talks while pelosi spell noncommittal whether the cuts will be in the deal. still, the administration is trying to breathe life to the talks, with vice president biden shopping at new costco in washington, picking up a big screen tv and apple pie and insisting he is optimistic of a deal. >> i am. i am. all the folks in the store, man. going to make a difference. >> carney shot down a politico report that a phone call last night between boehner and the president was curt, noting it was 28 minutes long and productive. signaling the president is flexible on taxes not being
say democrats on capitol hill vote for including the spending cuts in this deal to avoid the fiscal cliff. that is not what they are doing now. should they include those? >> yes. i think that, and i know that democrats accept that this has to be it, a balanced package, that includes revenues and cuts and spending cuts. >> months ago, the budget carney held up was voted down by the entire senate. 99-0. meaning no democratic support. earlier, dick durbin insisted spending cuts from...
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. >> while the national dialog is focused on the fiscal cliff which has the potential to significantly affect state budgets many governors are also tackling the implementation of obama care. starting in 2014 medicaid will be expanded to all americans within 138% of the poverty line, which is individuals making $15,000 a year or less, give health care to as many as 21 million additional americans. eight governors including one of those at the white house today, oklahoma republican governor mary fallin are rejecting the offer, concerned their states may have to foot the bill down the road. the president was sure to have some thoughts following their pow wow at the white house. the six governors are on to meet with house speaker john boehner and senate majority leader harry reid this afternoon, also sure to have some thoughts. joy, the medicare question is really interesting in terms of how the governors play this one. in so far as, if you're a republican governor and offered the federal -- the federal government says it's going to cover i believe 100% of the cost of expanding the rolls f
. >> while the national dialog is focused on the fiscal cliff which has the potential to significantly affect state budgets many governors are also tackling the implementation of obama care. starting in 2014 medicaid will be expanded to all americans within 138% of the poverty line, which is individuals making $15,000 a year or less, give health care to as many as 21 million additional americans. eight governors including one of those at the white house today, oklahoma republican governor...
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host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by they girls sitting in their with a baby in one arm and a cell phone and a cigarette in the other -- host: so terry, what's your point? caller: what my point is is that democrats are putting this country into poverty. plain and simple. host: all right, we got your point, thank you for calling in this morning. from politico this morning -- that's from politico this morning, and this is from the hill newspaper -- hagel, a centrist on foreign policy has expressed support for some of the obama administrations recent national security policy. again, that's from the hill reportin
host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by...
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this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the sledge hammer approach is not economically sound. now, there are targeted and measured ways to do it without driving the country in to another recession. some debate today as to whether we're in one or not but the sequester will only make things worse. congress, solve it. solve it nowme. we're all watching. housing is hot. if you have credit and money for a down payment, the perfect time to buy. nationally, affordability is the best it's been in a long time. new york city is the least affordable place in america to purchase a home. no big surprise here. home prices in new york are nearly two and a
this is not the whole fiscal cliff but just the sequester. $1.2 trillion of mandatory spending cuts over ten years and scheduled for january 2nd. half of that money cut in defense. half in everything else. next year alone could take $65 billion out of spending and a million jobs versus growing 2 million which is what the u.s. is on track to do now. i fully understand the government needs to spend less and spend more efficiently but how you achieve it is as important as how much you cut and the...
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i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we wasting our money? democrats want to cut taxes. host: armstrong williams? guest: we haven't gotten to affordable care and medicare and medicaid. if affordable care was administered correctly and if he did not have the special interest groups and if tort reform was not included, package you move forward in making health care work for anyone if you do not bring tort reform to the table? the medical malpractice lawsuits are out of control where doctors are paranoid and have to think twice before going through these procedures. it becomes a nightmare
i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we...
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i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy. >> i think we all do the same, i believe that you can time the market and pick stocks. i know people believe that. it is interesting that today we talked about ranges in the s&p. i think we have done a good job. look at where we traded up to that 1425 that we have talked about being resistance number of times. i don't want to make a big deal out of this. today was an outside day from friday's range the low, lower than friday's low. it has been in a very defined range. i think we traded towards the upper end and i think we are heading twarts the 1375 and 1380 level again. you trade that range un
i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy....
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. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the city prepared to mark the bombing of the city in 1945. >> you know, everybody has their own view what happened, and i, i don't, i don't want to argue survival with anyone in japan about the history. i think we're past that. my whole purpose for being here is to listen, to honor the dead, to listen to the living and to see -- to do what i can to see this doesn't happen again. >> clifton truman daniel will join us sunday at 9 p.m. eastern on c-span3. >> now, a discussion of how the military and national security might be affected by spending cuts scheduled to take effect the first of the year. part
. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the...
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the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with eric's take? is the right strategy for republicans to stick to their guns, forget about compromise? >> no. i really don't -- eric is one of my favorite people. we talk a lot. but i think that, and i did work for the speaker gingrich during the shut-down fight in '96, and it did not work out well for republicans. the president has a much bigger bully pulpit than the speaker does. newt gingrich's bully pulpit was pretty big back in those days but at some point, republicans in the house -- and i think boehner is trying to look for ways to do this, speaker boehner,
the republicans and democrats alike designed the fiscal cliff. it's a series of bipartisan compromises and i think it's kind of foolish to think that this group of congressmen and senators is going to come up with a way out of something they themselves designed. >> rich, you worked for a republican speaker who went up against a democratic president over the spending issues. back then the face-off didn't turn out all that well for your party. obviously very different era. do you agree with...
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both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that was voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted major spending cuts and entitlement reform will not be part of these talks. nancy pelosi has been noncommittal about whether cuts will be in the deal. still, they are trying to breathe into the talks with vice president biden shopping avenue costco in washington, picking up a big-screen tv and an apple pie and insisting he is optimistic of the deal. >> i am. all these folks in the store. they are going to make a difference. reporter: a phone call last night between speaker boehner and the president was very curt. it signaled that the president is flexible on taxes by not being specific on the new rates. >> i will say that there can be no deal without rat
both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that was voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted major spending cuts and entitlement reform will not be part of...
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all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we did find that we will do fine. >> the question is whether the negotiations will lead to making other tough choices such as washington getting a handle on the growth of government. if not, the european example seems to suggest fiscal trouble to our shores as well. >> john: thanks. the stock were mixed. dow gained 81. s&p 500 up 4. president obama visits detroit and he will see upset people there. mike tobin has the effect. >> michigan democrats say they can't stop, as the republicans have the numbers so despite the angry protests the legislation that rick schneider calls freedom to work will pass the final vote on
all about taxes and not spending cuts in averting the fiscal cliff. >> the facts are at that point the 39.6% does produce the revenue. the differentiation between 39.6% and the 28% at that the president has for limitation on deduction creates a great deal of money as well. >> one conservative financial commentator suggests the likely outcome of the fiscal cliff talks won't be the end of the world. >> we will have taxes that are the same as the taxes were under bill clinton. we...